[SINGAPORE] Class A-1 private equity (PE) bonds issued by Temasek-linked Astrea VI were fully redeemed on Wednesday (Mar 18).
In addition to the full principal amount, bondholders received a bonus redemption premium of 0.5 per cent of the principal.
The Class A-1 bonds carried a fixed interest rate of 3 per cent per annum, paid every six months. The issue size was S$382 million.
Within the same series, Class A-2 bonds were also fully redeemed, while about two-thirds of Class B were redeemed.
The redemptions took place on the bonds’ scheduled call date, five years after their issuance in 2021.
Astrea VI is Singapore’s third retail PE bond offering. The issuer, Azalea, is an indirect wholly owned subsidiary of Azalea Asset Management, which is in turn wholly owned by Temasek.
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Justin Keh, managing director of investments and lead of the Astrea platform at Azalea, said that the full redemption of its Class A bonds shows the platform’s ability to “consistently generate distributions and meet bond obligations for our bondholders”.
Azalea’s chief executive and chief investment officer Chue En Yaw pointed out that the platform reflects Azalea’s focus on structuring products to “mitigate risks and deliver reliable outcomes for investors”, especially retail participants.
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